Commercial Debt Recovery and Trade Credit Insurance
When speaking with potential clients on a daily basis, they often think they do not require a third party as a means of escalation for overdue or problematic accounts. If they have trade credit insurance in place, they believe this is on the only means to recover money if any of their customer accounts ever became a problem. This is not the case.
A third party like ourselves are here to work alongside your credit insurance. We should be used before you make a any claim on your trade credit insurance. If unsuccessful, you do not pay us for our services, you can also be rest assured that there is nothing further you could do to recover the money making it perfect for a claim. We can also provide any documentation you may require to backup your non-payment claim or to prove your customer is insolvent or liquidated.
Our clients currently use us around 30 days before their reporting deadline to allow us to recover the outstanding debts and prevent them from making a claim which would see them lose a percentage of their principal sum (anywhere between 10-15%). They will also certainly experience additional charges as well as increase their premium at their renewal.
Here are 4 reasons to use our services prior to claiming:
1. Cost: With our average fee being 7.5%, you are actually recovering 92.5% of your debt rather than losing 10% of your principal sum if claiming.
2. Time: We action all debts within 1 hour of instruction and have an average turnaround time of 16 days. The average settlement time of a claim generally takes around 6 – 8 week. Impacting your cash flow.
3.No Tie In or Contract: Some insurance companies tie you in by insisting that their own debt recovery team take over the management of the debt. Our services are simply to be used whenever you have a need – use us once a week or once a year – we are here to help.
4. No debt is too small: Unlike credit insurers we do not have any restrictions on the value of your case. Whether it is £500 or £500,000 – we are here to help.
We are partnered with some of the UK’s leading credit insurance brokers because they know using Darcey Quigley & Co will reduce their customers claims, reduce their administration fees as well as keeping their premiums down.
If you would like to discuss our services in more detail get in touch:
Call: 01698 821468 or
Email: [email protected]